Guest: Bryan Doxford

Today on Credit Union Conversations, Mark Ritter sits down with Bryan Doxford of Grow America to discuss innovative approaches to supporting small businesses, affordable housing, and underserved communities. Bryan shares insights into the mission-driven work of Grow America, including its role in providing capital through SBA loans, new market tax credits, and low-income housing initiatives. Bryan highlights how Grow America partners with credit unions, CDFIs, and community organizations to bridge funding gaps, offer economic development training, and help businesses access the capital they need to thrive.

They also delve into the current state of Certified Development Financial Institutions (CDFIs), exploring trends in consolidation, grant reliance, and self-sufficiency. Bryan underscores the importance of collaboration, both between mission-aligned organizations and with credit unions, to maximize impact in underserved communities. From small business lending to affordable housing and workforce development, this episode provides actionable insights for credit unions and community-focused organizations seeking to expand their impact.

IN THIS EPISODE:

  • (00:00) Introduction
  • (01:00) Bryan Doxford’s career journey: from credit unions to SBA lending
  • (07:00) About Grow America’s mission and programs
  • (09:00) Explanation of new market tax credits
  • (11:00) Current state and future of CDFIs
  • (17:100) Affordable housing initiatives and impact
  • (21:00) Training programs and community partnerships
  • (24:00) Access to capital and client community examples
  • (25:00) How credit unions can collaborate with Grow America

KEY TAKEAWAYS:

  • Grow America partners with credit unions and CDFIs to provide access to SBA and non-SBA business loans, bridging capital gaps in underserved communities.
  • The future of CDFIs may involve strategic consolidation and increased self-sufficiency, balancing grant reliance with sustainable operations.
  • Affordable housing initiatives, new market tax credits, and technical training programs are critical tools for driving economic development nationwide. 

RESOURCE LINKS:

Mark Ritter Website
Mark Ritter – LinkedIn
Bryan Doxford LinkedIn
Grow America Website

Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership.